Spain: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Spain

In 2022, the Spanish crude palm oil market decreased by X% to $X, falling for the second year in a row after four years of growth. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Crude Palm Oil Exports

Exports from Spain

In 2022, crude palm oil exports from Spain skyrocketed to X tons, picking up by X% against 2021 figures. In general, exports posted measured growth. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, crude palm oil exports soared to $X in 2022. Over the period under review, exports posted resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Portugal (X tons) was the main destination for crude palm oil exports from Spain, accounting for a X% share of total exports. Moreover, crude palm oil exports to Portugal exceeded the volume sent to the second major destination, France (X tons), eightfold. The third position in this ranking was held by the Czech Republic (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Portugal stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the Czech Republic (X% per year).

In value terms, Portugal ($X) remains the key foreign market for crude palm oil exports from Spain, comprising X% of total exports. The second position in the ranking was held by Romania ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and France (X% per year).

Export Prices by Country

The average crude palm oil export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price continues to indicate a pronounced increase. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Romania ($X per ton) and Italy ($X per ton), while the average price for exports to the Czech Republic ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Crude Palm Oil Imports

Imports into Spain

In 2022, purchases abroad of crude palm oil decreased by X% to X tons, falling for the second year in a row after four years of growth. Overall, imports showed a slight reduction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, crude palm oil imports totaled $X in 2022. Over the period under review, imports, however, recorded mild growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Guatemala (X tons) constituted the largest supplier of crude palm oil to Spain, with a X% share of total imports. Moreover, crude palm oil imports from Guatemala exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. Colombia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guatemala amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Colombia (X% per year).

In value terms, Guatemala ($X) constituted the largest supplier of crude palm oil to Spain, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Guatemala totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Indonesia (X% per year).

Import Prices by Country

The average crude palm oil import price stood at $X per ton in 2022, rising by X% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude palm oil import price increased by X% against 2018 indices. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Colombia ($X per ton) and Malaysia ($X per ton), while the price for Honduras ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gabon (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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